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Old 10-08-2013, 07:38 PM  
petegz28 petegz28 is offline
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Reid wants $1T debt hike to end of 2014

http://thehill.com/blogs/on-the-mone...to-end-of-2014
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Old 10-08-2013, 08:20 PM   #16
Raiderhader Raiderhader is offline
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Yes it matters, because the point is to lower the deficit and eventually pay off debt. If we do that, then we are pragmatic and fiscally responsible. If we ignore the deficit and simply dont pay our bills, then we are deadbeats. That is the difference.
Do you honestly think that is ever going to happen? We are already knocking on 17 T. How do you pay that down? I mean, there is a way but, it will not happen. It just won't. The cuts in government necessary to accomplish it would have half the country rioting as they watch their free ride come to an end.
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Old 10-08-2013, 08:21 PM   #17
vailpass vailpass is offline
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When we stop paying it back.
So embarrassing to be this wealthy yet manage our finances so poorly.
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Old 10-08-2013, 08:22 PM   #18
Raiderhader Raiderhader is offline
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At what point do people stop lending us money?
I mean, there has to be an end to it eventually. Right?
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Old 10-08-2013, 08:22 PM   #19
cosmo20002 cosmo20002 is offline
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Don't know but does that really matter? We cannot afford to keep taking on trillions of additional debt.
"Reagan proved deficits don't matter."
--patteeu Dick Cheney
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Old 10-08-2013, 08:24 PM   #20
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Originally Posted by Raiderhader View Post
Do you honestly think that is ever going to happen? We are already knocking on 17 T. How do you pay that down? I mean, there is a way but, it will not happen. It just won't. The cuts in government necessary to accomplish it would have half the country rioting as they watch their free ride come to an end.
Just tell everyone we owe to go **** themselves.


That's what the countries that owed us after WWII did.
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Old 10-08-2013, 08:24 PM   #21
banyon banyon is offline
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Originally Posted by Raiderhader View Post
Do you honestly think that is ever going to happen? We are already knocking on 17 T. How do you pay that down? I mean, there is a way but, it will not happen. It just won't. The cuts in government necessary to accomplish it would have half the country rioting as they watch their free ride come to an end.
Well its even more demoralizing when you realize that our standard of living is in a downward spiral and that these problems are going to get even worse after the tax base erodes.
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Old 10-08-2013, 08:24 PM   #22
vailpass vailpass is offline
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Originally Posted by Raiderhader View Post
I mean, there has to be an end to it eventually. Right?
God I hope so. Learned this when I was like 12 years old...
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Old 10-08-2013, 08:25 PM   #23
banyon banyon is offline
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Just tell everyone we owe to go **** themselves.


That's what the countries that owed us after WWII did.
I think iceland did it and is starting to re-emerge.
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Old 10-08-2013, 08:26 PM   #24
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Of course he wants to. Him and his gang want to completely rob the American economy and leave us all broke. That's the plan. That's what it's always been for last 100 yrs. Wake the **** up. Stop voting for these assholes in Congress.
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Old 10-08-2013, 08:27 PM   #25
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I think iceland did it and is starting to re-emerge.
All joking aside, what would happen if we tell them to get lost?
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Old 10-08-2013, 08:28 PM   #26
banyon banyon is offline
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Originally Posted by CoMoChief View Post
Of course he wants to. Him and his gang want to completely rob the American economy and leave us all broke. That's the plan. That's what it's always been for last 100 yrs. Wake the **** up. Stop voting for these assholes in Congress.
Its not "him and his gang" its both gangs, who are really the same gang.
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Old 10-08-2013, 08:28 PM   #27
CoMoChief CoMoChief is offline
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I think iceland did it and is starting to re-emerge.
85% - 90% of our debt really isn't ours.

We should/could really do the same thing but there seems to be a revolving door with the people in Washington and boards of directors of large financial institutions...hmm funny how that seems to ****in' work out.
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Old 10-08-2013, 08:29 PM   #28
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All joking aside, what would happen if we tell them to get lost?
They'll send in Al-Qaeda to blow up nuclear reactors across the country.
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Old 10-08-2013, 08:33 PM   #29
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All joking aside, what would happen if we tell them to get lost?
I have thought for a long time that serious default (not this self inflicted political theater) is almost inevitable.

I assume there would be a period of massive hyperinflation, followed by substantial social unrest.

Many countries, though have weathered such storms and come back. But none of those countries was ever the world's superpower and reserve currency. When mexico was on the brink, we bailed them out.

China would have to be willing to do that, because nearly every other country has the same issues we do.
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Old 10-08-2013, 08:34 PM   #30
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Originally Posted by CoMoChief View Post
85% - 90% of our debt really isn't ours.

We should/could really do the same thing but there seems to be a revolving door with the people in Washington and boards of directors of large financial institutions...hmm funny how that seems to ****in' work out.
Where did you get that figure from?
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